KRChoksey has come with its September quarterly earning estimates for auto sector. According to the research firm, it was a mixed quarter for the overall Auto industry with higher crude prices & higher interest rates playing as the spoil sport.
- 2 wheelers, specially Bajaj Auto & HeroMotocorp saw some volume pressure as demand failed to pick up
- Raw material cost pressure & Employee cost pressure seen in Maruti & Ashok Leyland, whereas employee unrest saw Marutis sales dwindling down
| Company | Sales (Rs Cr) | PAT (Rs Cr) | Reco | ||
| FY13E | FY14E | FY13E | FY14E | ||
| Tata Motors | 163,033 | 182,125 | 12,750 | 14,570 | BUY |
| Maruti Suzuki | 42,594 | 46,428 | 2,712 | 3,111 | REDUCE |
| Ashok Leyland | 13,736 | 15,590 | 621 | 802 | ACCUMULATE |
| Bajaj Auto | 21,644 | 23,592 | 3,849 | 4,129 | BUY |
| Hero Motocorp | 24,500 | 26,705 | 2,857 | 3,151 | ACCUMULATE |
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